Deere & Company (NYSE:DE) Shares Acquired by CIBC Asset Management Inc

CIBC Asset Management Inc lifted its position in Deere & Company (NYSE:DE) by 4.0% during the third quarter, HoldingsChannel.com reports. The fund owned 38,074 shares of the industrial products company’s stock after acquiring an additional 1,474 shares during the period. CIBC Asset Management Inc’s holdings in Deere & Company were worth $15,889,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Oppenheimer Asset Management Inc. boosted its holdings in shares of Deere & Company by 20.5% during the 2nd quarter. Oppenheimer Asset Management Inc. now owns 15,808 shares of the industrial products company’s stock worth $5,906,000 after purchasing an additional 2,692 shares during the last quarter. Chase Investment Counsel Corp lifted its position in Deere & Company by 53.8% during the third quarter. Chase Investment Counsel Corp now owns 4,000 shares of the industrial products company’s stock worth $1,669,000 after buying an additional 1,400 shares in the last quarter. Balentine LLC acquired a new position in Deere & Company during the third quarter worth $710,000. Royal Fund Management LLC grew its holdings in Deere & Company by 99.8% in the 3rd quarter. Royal Fund Management LLC now owns 6,454 shares of the industrial products company’s stock valued at $2,694,000 after buying an additional 3,223 shares in the last quarter. Finally, New Century Financial Group LLC purchased a new stake in Deere & Company in the 3rd quarter valued at $1,052,000. 68.58% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on DE shares. Oppenheimer lowered their price target on shares of Deere & Company from $465.00 to $448.00 and set an “outperform” rating on the stock in a research report on Monday, July 22nd. Bank of America boosted their target price on shares of Deere & Company from $400.00 to $410.00 and gave the company a “neutral” rating in a report on Friday, August 16th. JPMorgan Chase & Co. raised their price target on shares of Deere & Company from $360.00 to $420.00 and gave the stock a “neutral” rating in a report on Friday, October 11th. Morgan Stanley decreased their price objective on Deere & Company from $450.00 to $425.00 and set an “overweight” rating on the stock in a report on Monday, August 26th. Finally, HSBC lowered Deere & Company from a “buy” rating to a “hold” rating in a research report on Monday, August 19th. Twelve investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, Deere & Company presently has an average rating of “Hold” and an average price target of $420.69.

Deere & Company Trading Up 1.1 %

NYSE DE opened at $398.95 on Friday. The company has a debt-to-equity ratio of 1.85, a quick ratio of 1.87 and a current ratio of 2.07. The firm has a market cap of $109.15 billion, a price-to-earnings ratio of 13.61, a PEG ratio of 1.48 and a beta of 0.93. The firm has a 50 day simple moving average of $403.69 and a 200-day simple moving average of $385.70. Deere & Company has a one year low of $340.20 and a one year high of $420.47.

Deere & Company (NYSE:DE) last issued its quarterly earnings results on Thursday, August 15th. The industrial products company reported $6.29 EPS for the quarter, beating the consensus estimate of $5.63 by $0.66. Deere & Company had a net margin of 14.69% and a return on equity of 36.71%. The company had revenue of $11.39 billion during the quarter, compared to analysts’ expectations of $10.94 billion. During the same quarter last year, the company posted $10.20 EPS. The firm’s revenue was down 20.3% compared to the same quarter last year. Equities research analysts anticipate that Deere & Company will post 25 EPS for the current fiscal year.

Deere & Company Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, November 8th. Investors of record on Monday, September 30th were issued a $1.47 dividend. The ex-dividend date of this dividend was Monday, September 30th. This represents a $5.88 dividend on an annualized basis and a yield of 1.47%. Deere & Company’s dividend payout ratio (DPR) is presently 20.06%.

Deere & Company Profile

Deere & Company engages in the manufacture and distribution of various equipment worldwide. The company operates through four segments: Production and Precision Agriculture, Small Agriculture and Turf, Construction and Forestry, and Financial Services. The Production and Precision Agriculture segment provides large and medium tractors, combines, cotton pickers and strippers, sugarcane harvesters and loaders, harvesting front-end equipment, pull-behind scrapers, and tillage and seeding equipment, as well as application equipment, including sprayers and nutrient management, and soil preparation machinery for grain growers.